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Banking expert: Private banks do not support the Iraqi economy and live off the Central Bank
Economy Central Bank of Iraq Private banks
2024-12-16 00:52
Twilight News/ Banking expert Mohamed Salem confirmed on Monday that most private banks are... She no longer “lives” on the Central Bank of Iraq without engaging in any economic activity.
And he said Salem told Shafaq News Agency,
“Most private banks do not practice banking business
It concerns credit only in a small way and
therefore does not contribute to revitalizing the Iraqi economy, as...
Currency exchange is the basis of its banking revenues, so
it has become dependent on
electronic trading Hard currency and
electronic payment, where
you
obtain the dollar from the central bank and
sell it And you
get net profits without getting tired.” And he realized
“Private banks, although they moved away from providing bank loans, were pioneers In
electronic trading and in
providing services to citizens and employees, whether related to ATMs Mechanism or other electronic services at a time when government banks were suffering from backwardness In this field." He explained
“These services at private banks encouraged employees to settle their salaries there While government banks, except for the Iraqi Trade Bank, remained suffering from the problem of scarcity Localizing the salaries of its employees.” He confirmed Salem said,
“Government banks, despite their failure to keep pace with international and even private banks
However, it remains faithful in preserving its depositors’ money, no matter how much it is exposed to theft or plunder This is what these banks witnessed in 2003.”
https://shafaq.com/ar/اقتصـاد/خبير-مصرفي-المصارف-ال-هلية-لا-تدعم-الاقتصاد-العراقي-وتعتاش-على-البنك-المركزي
Economy Central Bank of Iraq Private banks
2024-12-16 00:52
Twilight News/ Banking expert Mohamed Salem confirmed on Monday that most private banks are... She no longer “lives” on the Central Bank of Iraq without engaging in any economic activity.
And he said Salem told Shafaq News Agency,
“Most private banks do not practice banking business
It concerns credit only in a small way and
therefore does not contribute to revitalizing the Iraqi economy, as...
Currency exchange is the basis of its banking revenues, so
it has become dependent on
electronic trading Hard currency and
electronic payment, where
you
obtain the dollar from the central bank and
sell it And you
get net profits without getting tired.” And he realized
“Private banks, although they moved away from providing bank loans, were pioneers In
electronic trading and in
providing services to citizens and employees, whether related to ATMs Mechanism or other electronic services at a time when government banks were suffering from backwardness In this field." He explained
“These services at private banks encouraged employees to settle their salaries there While government banks, except for the Iraqi Trade Bank, remained suffering from the problem of scarcity Localizing the salaries of its employees.” He confirmed Salem said,
“Government banks, despite their failure to keep pace with international and even private banks
However, it remains faithful in preserving its depositors’ money, no matter how much it is exposed to theft or plunder This is what these banks witnessed in 2003.”
https://shafaq.com/ar/اقتصـاد/خبير-مصرفي-المصارف-ال-هلية-لا-تدعم-الاقتصاد-العراقي-وتعتاش-على-البنك-المركزي
